Reform of China’s sprawling state-owned enterprises is generating lucrative assignments for bankers. However they must be in it for the long-haul as change will take time.

Reform of China’s sprawling state-owned enterprises is generating assignments for investment bankers, from restructuring advice to combing the globe for potential investors.

On Tuesday, Chinese officials named healthcare giant Sinopharm and conglomerate China National Building Materials among the next wave of SOEs seeking private investment, underlining how the government is now stepping up its efforts to reform the country's bloated state sector. Investment bankers seem only too ready to help.